Bitcoin price capped under $94K as weak demand blocks any push toward $100K

According to recent on-chain and liquidity metrics, Bitcoin has traded for much of the past month without a clear trend and repeatedly failed to reclaim the $94k zone. Despite signs of accumulation and global M2 liquidity hitting record highs, demand indicators remain negative, holders face deep unrealized losses, and analysts suggest a move back above $100k would require large capital inflows that are not yet visible.